National Republican. (Washington City (D.C.)) 1872-1888, 1887-06-15
a RUSH TO SELL.
The Room Traders Control the Market
and Bear Down Prices.


New York, June 1.-the dealings in
stocks to-day after the first hour were on a
much larger scale than has been seen for
several weeks. The break In the wheat
deals In Chicago this morning, following
the excitement In the coffee market the
last few days, caused great deal OF excite
ment and apprehension among the smaller
class OF operators, who now hold most OF
the floating stock, and their efforts to re-
alize upon their holdings gave the first i'm.
petus to the downward movement, which
assumed large proportions later In the day.
The room traders, who at present are bear
ish almost TO man, Joined in the selling
movement and so created q decided break.
The opening was Irregular, aud though
the changes were for Insignificant fractions
only, declines were In majority. The
business OF the first hour was quiet TO dull,
and prices, though at first weak, later ro-
covered. Soon after IL o'clock, however,
the rush to sell began, and the transactions
OF the second hour were about double those
OF the first. Prices moved off rapidly, ard
by noon were ! to II per cent. below the
opening figures. There was fractional
recovery In the early part Of the afternoon,
but the decline was soon renewed, and the
losses up TO 2 p. m, when the lowest prices
Of the day generally were made, were about
equal to those Of the forenoon. In the last
hour covering Of shorts turned the tide and
material recovering was made before the
close, which was quiet and firm.
Money on call has been easy, ranging
from 2 to O., last loan at 4, and closing
offered at 3. Sterling exchange is dull
and steady. Actual business at 4Sl to 4Si2
for 60-day bills and 1856 to 1861 for demand.
Posted rates 1854 to 4S7. Government
bonds have. been dull and steady. State
bonds have been dull and steady to firm.
Treasury balances-Coin, $l3i,936,317;
The following were the closing bid quo.
tations
u, As, 1895 ~ COUP, loeH;, Pac. es Of
La. Cons, 50; Mo. 6s Of 81, lo2l6; N. O. Cons.
N. c., IS; Tenn. settlement IS, 7514; Cent
PMac' st. li77S D. 4 r. kor, z; ist ps So
g. I. & San Fran, ny; s.; Paul Con-, 1870;
II X chfS pec g; Union l2s S Pss i ssi i y
Ex., log: Bos: Air Y pref; %; ,. 9. 4 Il; H. 50;
Pac., Ss; Ches. 4 Ohio, Gsl Chic 4 Alton iiS:
g; Con: Coal, 2Oi, Del, & ndd, 1929; Del, 4
pref, Tx Fort wayne, 1857 Harle ss' AS as
Aous q Tex. 90; m. Cen, 12Sl{: Kans. &
| Lvl. & NASH 65; Manhattan & Con, 1857; N
| 4 Char, So; Met. L., 2O6; Mich. Cen, 90 Mo.
Pac., loss; Mob. & o., III Mar. & E.. I39; N.
Chat. 8SJ: N. J. Central, 1913; NIX. & W. pref,
5o1g;, Northern Pac., $l554; DO. pref, soy
Central, 1IIjS; Chicago " ST. L., 81; do.
Or. Nav, 1Ol; Pac. Mail, 5S99S; Pittsblrg, 1851
Bsa ito o kGss ke H. is A ST. s k g r.
| 409S; do. pref, S0A: list pref, 1l7ss; ST.
Paul. 9O9S; do. pref, 1913; 81. Paul \
81 Sion Fac DO 5 Pref so TEX d. Wac Psc' $ S,s
| lsJS; do. p, S231; Wells Far, 1885, W. Union
| "a; Tenn. Coal Il Iron. 81 Cotton OIL
Trust, 491s: Quicksilver, 6l4; do. pref, %. G
ssrain ana Provisions.
Following is the range OF prices in the Chicas,
market, furnished by B. x Plain o. st. CLOUD